Dow's Record High: What's It All About?

Is the Dow's record a sign of U.S. recovery or a just an arbitrary number? Paul Vigna and Steve Russolillo discuss on Markets Hub. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... I ... Dow Jones industrial average of ... five points this morning fourteen thousand ... oh seven on twenty eighteen see it moving ... but after the rally yesterday after the rally Tuesday despite ... the selloff on Monday the Dow Jones industrial average ... by the ... five years after ... he held for years after bonus but do that ... the strike in a low in March two thousand and nine the market is on ... track for ... come on you right here ... can I get ... fourteen thousand one hundred and sixty five batsmen will admit that would represent a new record for the Dow Jones industrial average damage at ten thousand halfback in the late nineties bull times when they're given a pass will they be given the mat again ... anybody care about this number beside us an immediate hit a couple a trader's ... Steve Russolillo might compete read on the market people I he is one of the hat you are not in the protests this month is intensely fifteen years now and I looked into doesn't effect as the cool thing that ... of the euro about this this morning obviously when the writing about this as the market gets closer ... this record ... does it mean anything to just a number ... the assigned although fundamental rebounding economy what's the acting is so there's a lot things on here a day in office ... the cayenne and ... that it is just the number in the sense that really nothing changes if we get to fourteen one six five of the puzzle where we are now fourteen kg one hundred whatever it is right ... up but psychologically it matters in the sense that it shows up completely down here from the worst of the crisis in terms of the market to take the economy still have a long way to go for when you're talking stocks ... it means something you've seen some money come back into the market over the last few months here and psychologically I think that this actually is a lot more important in some people are are letting on and so I just as you alluded to the media put up a lot ... up but I think there is some sort of psychological impact from ... getting to me cleaning those in record level you know I would show the charm you can see in the chart in the house store does move in right as the years ... know it's interesting is that when the Dow first cut knew this number it in court in a January beginning in February ... BYJ in orders or even nine months to come into going higher going higher ... Faber has not been like that all exact high-end me now is very interest exactly because so we're all about this February first what the day when the Dow ... finally move back above fourteen thousand so as you mentioned you know we have a nice runup in January hit fourteen thousand for four and that's what people really start talking about the record one out every twenty eight that we've had an entire month ... and the market is basically just moved around that fourteen thousand level the entire time ... and all the last six days ago will stay with the the seventh day ... volatility has picked up within the markets instead of these minor moves then today ... you seen a triple digit swings five of the last six days the Dow was moved one hundred points in either direction or so or Morse or more exactly and so the volatility is picking up a little bit and you're seeing some of that the technical resistance ... that that's hovering around the fourteen thousand level as bad as well as you know this record high of fourteen thousand one hundred and sixty five so you see it on the chart you see that the markets are popping up right along there just had to stop freaking out there and waiting for move one where many of you mention the economy this morning swim debt to GDP reporter a vision for a revised from negative zero point one to positive zero point one right ... that's not a very big no such thing doesn't really change the game in OT me whatever you thought about the economy in the fourth quarter the first of the GDP ... number cannot use actually think the same thing regarding these numbers are so miniscule negative put one of them when one ... has only changed things ... it shows that the economy really was ... the open credit cards will halt at the end of the flash buyer and so ... some people had no expectations are a little higher for the current quarter that would rate now so it's a good sign ... up but still though ... why were as jobless claims are down more than twenty thousand so that's a good sign but still that isn't a great bottle that is the very value of the sequester coming up on Friday they don't ... sell a lot and certainly a lot of worries that ... out there ... but in terms of market of fourteen thousand here we are now two months its findings represent a new record Steve are still think they are a much